State Farm Mutual Automobile Insurance Co. Buys 246,553 Shares of Trimble Navigation Ltd. (TRMB)

State Farm Mutual Automobile Insurance Co. boosted its stake in Trimble Navigation Ltd. (NASDAQ:TRMB) by 777.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,275 shares of the scientific and technical instruments company’s stock after buying an additional 246,553 shares during the quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.11% of Trimble Navigation worth $9,926,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Trimble Navigation by 6,646.3% in the 1st quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock worth $722,710,000 after buying an additional 22,242,969 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Trimble Navigation by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock valued at $655,082,000 after purchasing an additional 879,694 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Trimble Navigation by 2.0% during the 1st quarter. Wellington Management Group LLP now owns 11,273,004 shares of the scientific and technical instruments company’s stock valued at $360,849,000 after purchasing an additional 217,701 shares in the last quarter. State Street Corp raised its holdings in shares of Trimble Navigation by 1.3% during the 1st quarter. State Street Corp now owns 8,157,478 shares of the scientific and technical instruments company’s stock valued at $261,115,000 after purchasing an additional 103,450 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Trimble Navigation by 1.6% during the 1st quarter. King Luther Capital Management Corp now owns 3,574,016 shares of the scientific and technical instruments company’s stock valued at $114,404,000 after purchasing an additional 56,046 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/09/24/trimble-navigation-ltd-trmb-holdings-boosted-by-state-farm-mutual-automobile-insurance-co.html.

Shares of Trimble Navigation Ltd. (TRMB) opened at 39.76 on Friday. Trimble Navigation Ltd. has a 52 week low of $25.30 and a 52 week high of $40.30. The firm has a market capitalization of $10.07 billion, a P/E ratio of 57.62 and a beta of 2.28. The firm’s 50-day moving average is $38.19 and its 200-day moving average is $35.51.

Trimble Navigation (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. Equities analysts anticipate that Trimble Navigation Ltd. will post $1.43 EPS for the current year.

In other news, SVP Darryl R. Matthews sold 3,714 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total transaction of $143,583.24. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at $77,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James A. Kirkland sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $37.60, for a total value of $376,000.00. Following the transaction, the vice president now directly owns 31,781 shares of the company’s stock, valued at approximately $1,194,965.60. The disclosure for this sale can be found here. Insiders have sold a total of 252,688 shares of company stock valued at $9,616,521 in the last ninety days. Insiders own 1.40% of the company’s stock.

TRMB has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Piper Jaffray Companies set a $43.00 target price on shares of Trimble Navigation and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub lowered shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $41.00 price target (up from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $36.00 target price (up from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $41.11.

Trimble Navigation Profile

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)




Receive News & Ratings for Trimble Navigation Ltd. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Trimble Navigation Ltd. and related companies with MarketBeat.com’s FREE daily email newsletter.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

one × four =